Magic Johnson recently sold his portion of the Los Angeles Lakers, but it seems he’s still attempting to liquidate his assets because he sold his Starbucks franchises – all 105 of them – on Tuesday.
The Los Angeles Time reports that “Johnson has divested his interest in Starbucks, selling 105 of the franchises back to the company he purchased them from for an excess of $100 million, according to a source not authorized to speak publicly.”
This should probably set off a couple of red flags, but apparently Johnson is just being a good business man.
Johnson had been rumored to be interested in buying the Golden State Warriors or Detroit Pistons, but the source said that was never the case. The Warriors and Pistons have been sold.
The source also insisted that Johnson’s real estate properties are doing fine.
Johnson made the two sales because it was a good business decision, the source said.
There will probably be another update to this story sometime down the line.